Every week our non-edited trading desk strategy remarks in deep analysis and medium term trading strategy.
TRADING DESK STRATEGY REMARKS AND MEDIUM TERM TRADING PLAN NON-EDITED
-For——- Trading desk
Main trading strategy focus still on $DXY
DXY has broken below the uptrend line 99.20 level which is now the downside support and is being rejected from the 99.50-100 zone again. Looking at the 96 target on the downside. We are cautiously bearish but given the market heavy ranging for almost eight months we are careful about taking trades and we will still look for direction.
EURUSD is testing the key 1.10000 level resistance. The close above this level would lead to an upside extension. Important notice—- We will look for long entries only on the close above the mentioned 1.10000 level. or on this pullback, if we get a confirmation of the reversal from the 200 SMA 1.08239 level. We will try the first long entry on 50% of the Friday candle around 1.09000.
GBP/NZD is breaking above the median line of the long term downtrend Pitchfork channel 1.7900 level and is testing the upside resistance 1.8850 level. Important notice—- Watching the price action for a long/short trade on lower time frames.
USD/NOK is rejected again from the 8.7300 level. We will look to short from on a possible retest of the shadow of the weekly candle or an extension below 8.5530. Important notice—- looking now for the short entries on an intraday bearish price action with SL above 0.87400 level.
USD/JPY is still in the bearish positioning below the weekly 100 SMA 113.350 level. This is now opening the possible long and short trade entry. Important notice—- Looking for the both long/short on the break above this level or the rejection from this level. We are more inclined to short entry but we need to see the price action.
GBP/JPY has been rejected again from the strong key resistance 148.480. This is opening the possibility of the long/short trade entry. Important notice—- looking for long/short entries depending on a break/bounce from 148.480 level or a bearish price action below this level.
USD/CAD is rejected from the strong resistance 1.3800 level. Important notice—-Still looking for the long/short trade entry depending on the break above 1.3800 or rejection from it based on an intraday price action.
S&P 500 with RSI negative divergence the instrument is in the topping pattern below 2400 level. Important notice—- looking for short entries on the intraday price action.
To improve is to change; to be perfect is to change often. Winston Churchill
—-Switching from USD bullish to neutral and more bearish